Register
October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423
24.3k views
2 votes
October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion, finally, time deposits were $243.8 billion.

What is the M1 for October 2010?

User Jtth
by
5.6k points

1 Answer

5 votes

Answer:

M1 $1.24 trillion

M2 $4.41 trillion

M1 and M2 money have several definitions, ranging from narrow to broad. M1 = coins and currency in circulation + checkable (demand) deposit + traveler's checks. M2 = M1 + savings deposits + money market funds + certificates of deposit + other time deposits.

User Karbert
by
5.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.2m questions

8.2m answers

Other Questions

Why do objects used as money need to be in limited supply
When a producer owns an intermediary at the next level down in the marketing channel, it is referred to as _________. a. forward integration b. backward integration c. vertical channel connection d. horizontal
Which of the following is not how a pro forma financial statement is used A. to analyze the effects of the firms forecasts on its financial performance B. to determine the amount of money needed for a
Describe a time when you or someone you know chose not to conform to the behavior of others. Why do you think this person chose not to conform
An owner decides to sell his property and discovers that there is a lien on his title for a swimming pool he paid off 10 years ago. the pool company is out of business. what is the owner to do?
Link Copied!